Business Practice Explored Assignment

BUSINESS PRACTICE
EXPLORED

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
1. Marketing Mix of event Valentine's Day Event......................................................................1
2. Human resource requirement for event in metro bar...............................................................3
3. Preparation of financial details of 'Valentine's Day Event' in Metro Bar...............................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8
APPENDICES.................................................................................................................................9

INTRODUCTION
Business practices are the ways in which a business or event is practised or attempted in
the most cost effective way. These are used to improve productivity and reduce cost related to
the event. These activities helps business to achieve its objective, which is making more money.
In this project a event named as 'Valentine's Day Event' will be organised at the Metro Bar,
Luton Campus, University of Bedfordshire. Valentine's Day Event is organised for couples to
make their day memorable and spend some quality together. Event will be hosted for maximum
200 people and to organise it well marketing planning needs to be done. This report consist
details regarding marketing strategy and marketing mix that will be used for the event.
Requirement of various human resource to organise event together with their roles and
responsibilities will be discussed (Aktar, 2013). Details regarding financial budget will be
mentioned in this report to calculate cost involved in the running event.
MAIN BODY
1. Marketing Mix of event Valentine's Day Event
Valentine's Day Event is specially organised for couples to celebrate love and romance.
This event is a theme based event in which all the decorations will be done in red colour. Event
will start with performance of a band who will rock the floor with some rocking tracks.
Marketing strategy is a long-term, forward looking approach to planning with the fundamental
goal of achieving a sustainable competitive advantage. This strategy involves selection of
business plan that outlines overall game plan for finding consumers for the event that is
'Valentine's Day Event'. Marketing strategy focus on objectives of business and a detailed plan is
prepared to achieve these objectives. Marketing mix has been defined as marketing tool that is
used to organise event 'Valentine's Day Event' to achieve targeted objective. This mix refers to
set of actions or tactics, that is used to promote event in the market. There are 7Ps that make a
marketing mix such as Price, Place, Promotions, Product, Process, People and Physical
Environment. The Ps that are used in the marketing mix plan of 'Valentine's Day Event' to make
it a successful event are as follows-
Product- Each successful event marketer at first needs to introduce its targeted
consumers about event organised as a product. Essential elements of a event must be present to
make it successful. Marketing an event requires that the products like food and various other
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